Pros It's relatively cheap and takes impressive looking photos. Easy to use and seems reasonably durable. The UI isn't too bad and the size is wonderful for traveling.
Cons Manual focus, lack of a viewfinder.
Summary OK here is where I'm showin my age: Look, I don't have any beef with the auto-focus, unlike everyone else, I find it amazing to have a good auto-focus that works at all, very groovy. I don't expect it to be fast. But I really, really need a fast, easy manual focus. For you folks that never used a non-digital 35mm, it means a focus that works two ways: by distance that you pre-set, abd via a split image (or simiar) throught the viewfinder. Are you kidding me, does anyone expect you to look at a stupid 2.5 inch (or smaller) representation of the shot and get it in focus? This is absolutely the lamest aspect of this or any digital camera. If I know the shot is at 100 meters, or 3 meters, let me set it for that, or let me split-image adjust it. I'm not sure what the optional viewfinder gives you on this digital camera, but it's gotta be better than this for focus, or at least one would hope. If there were just a little bit better way to develop film I'd go in back to film, and just scan all my negatives to Photoshop. No wonder Bill Cunningham is hanging on to his film Nikon 35mm prime.
Pros lightweight. Good construction. Great lens(es). Very easy and very versatile.
Cons NO viewfinder.
Summary I wanted to upgrade from Canon G10 and Fuji point & shoots, but my Nikon D40 is too big. I bought the EPL-1 with kit lens and upgraded to 14-150 when it became available.
At first I was so-so about. Then I bought an EPL-1 for dummies and really learned how to use more of its features. No camera is perfect, ,but I learned more about focusing options, hi speed, white balance.
I took the camera with my G10 as backup to Belgium for a week trip. I shot 1000 pictures. I put 898 of them into an 10x13 book. At least half were with the Olympus. I shot in twilight, full darkness, cloud, clear skies. The pictures were absolutely sensational. This stuff about being slow; i just don't get. Maybe if you are shooting sports. People shots, landscapes, multiple exposure; just beautiful. Very compact, long battery life. I expect this will remain my primary camera for a whilte. Artistic stuff is limited compared to Canon - no color swap or accent, but the Pop art filter is brilliant. Dinant Belgium is a grey river town with a remarkable citadel and cathedral. The pictures of the buildings lining the river at the base of the citadel with pop art are just spectacular. Has panomara feature as well, very easy to use. Low light pictures with tripod were magnificent. Sharp, little distortion or fringing, You can nickel and dime and buy a camera for specs, but for performance and quality images, this accomplishes everything I could have wished for. You just have to spend some time learning its interface and control.s
Pros 1. All settings are adjustable.
2. Under the normal menu, you have allot of fast easy options for beginners.
3. Interchangable lens.
4. Built in flash.
5. Size, and I can't stress this enough...
Cons 1. Doesn't have the same depth of field as an SLR.
2. Limited and expensive lens.
3. No wheel
4. No real support yet from Apple...
Summary Well I haven't had this camera long enough to give it 5 stars, and I honestly think that is from just having the default 14-42mm lens. I honestly would suggest anyone thinking about getting an SLR to probably baby step to this camera though.
The layout is basically a point and shoot camera, but once you start to play with it, you'll realize the full potential.
One hint is under the wrench turn the gear menu on.
Coming from a Nikon SLR, there a bit I'm feeling awkward about but I think that is just the basic learning curve, ie the wheel to select options was a nice short cut that I really miss but was on the P1, P2.
As far as image quality, it's really good I'd like to say, but I'm still using the default 14-42mm kit lens, and that is probably my worse complaint. (slow and loud, image quality so/so)
I've already ordered the Panasonic 20mm lens, which I read is great even on these cameras, but Olympus really needs to get some more lens to market and hopefully with the same or better specs.
My last complaint was really about Apple, so you can probably ignore that, unless your in the same boat as me forced to manually edit the raws so they work in Aperture.
Overall, I'd say this is definitely the future of photography starting to bud. Once the micro 4/3rds format takes off, I'd expect allot more lens and even more options for consumers/enthusiasts/professionals.